WRGCX vs. KSCOX

Last updated Aug 1, 2026

WRGCX (Delaware Ivy Small Cap Growth Fund) and KSCOX (Kinetics Small Cap Opportunities Fund) are both Small Cap Growth Equities funds. Over the past 10 years, WRGCX returned 10.78%/yr vs 19.57%/yr for KSCOX. Their 0.64 correlation means they have sometimes moved together and sometimes differently. WRGCX charges 1.89%/yr vs 1.64%/yr for KSCOX.

Performance

WRGCX vs. KSCOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Delaware Ivy Small Cap Growth Fund (WRGCX) and Kinetics Small Cap Opportunities Fund (KSCOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WRGCX achieves a 14.82% return, which is significantly lower than KSCOX's 21.18% return. Over the past 10 years, WRGCX has underperformed KSCOX with an annualized return of 10.78%, while KSCOX has yielded a comparatively higher 19.57% annualized return.

WRGCX

• 1D: 1.74%
• 1M: -4.10%
• 6M: 12.10%
• YTD: 14.82%
• 1Y: 27.09%
• 3Y*: 16.51%
• 5Y*: 4.05%
• 10Y*: 10.78%
• ALL TIME*: 11.49%

KSCOX

• 1D: 0.90%
• 1M: -1.33%
• 6M: 6.96%
• YTD: 21.18%
• 1Y: 16.41%
• 3Y*: 24.47%
• 5Y*: 14.92%
• 10Y*: 19.57%
• ALL TIME*: 12.75%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
KSCOX Kinetics Small Cap Opportunities Fund	$0.00	$0.00	$0.00
WRGCX Delaware Ivy Small Cap Growth Fund	$0.00	$0.00	$0.00

WRGCX vs. KSCOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WRGCX Delaware Ivy Small Cap Growth Fund	14.82%	12.23%	27.78%	12.42%	-28.46%	1.22%	37.76%	22.89%	-4.54%	22.67%
KSCOX Kinetics Small Cap Opportunities Fund	21.18%	-8.66%	68.42%	-14.77%	31.96%	50.32%	2.30%	27.06%	0.29%	26.23%

Correlation

The correlation between WRGCX and KSCOX is 0.35, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.35
Correlation (3Y) Balances recent behavior with more history.	0.45
Correlation (5Y) Shows whether the relationship held over a longer period.	0.49
Correlation (10Y) Provides a long-term view across more market conditions.	0.52
Correlation (All Time) Calculated using the full available price history since Mar 20, 2000	0.64

Over the past year, the correlation between WRGCX and KSCOX has dropped to 0.35 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.

Return for Risk

WRGCX vs. KSCOX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

WRGCX

WRGCX Risk / Return Rank: 44
WRGCX Sharpe Ratio Rank: 37
WRGCX Sortino Ratio Rank: 39
WRGCX Omega Ratio Rank: 34
WRGCX Calmar Ratio Rank: 54
WRGCX Martin Ratio Rank: 55

KSCOX

KSCOX Risk / Return Rank: 13
KSCOX Sharpe Ratio Rank: 12
KSCOX Sortino Ratio Rank: 14
KSCOX Omega Ratio Rank: 15
KSCOX Calmar Ratio Rank: 13
KSCOX Martin Ratio Rank: 11

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

WRGCX vs. KSCOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Delaware Ivy Small Cap Growth Fund (WRGCX) and Kinetics Small Cap Opportunities Fund (KSCOX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	WRGCX	KSCOX	Difference
Sharpe ratio: Return per unit of total volatility	1.15	0.46	+0.69
Sortino ratio: Return per unit of downside risk	1.73	0.81	+0.92
Omega ratio: Gain probability vs. loss probability	1.20	1.11	+0.10
Calmar ratio: Return relative to maximum drawdown	1.95	0.60	+1.36
Martin ratio: Return relative to average drawdown	7.45	1.34	+6.11

WRGCX vs. KSCOX - Sharpe Ratio Comparison

The current WRGCX Sharpe Ratio is 1.15, which is higher than the KSCOX Sharpe Ratio of 0.46. The chart below compares the historical Sharpe Ratios of WRGCX and KSCOX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

WRGCX vs. KSCOX - Drawdown Comparison

The maximum WRGCX drawdown since its inception was -58.56%, smaller than the maximum KSCOX drawdown of -70.09%. Use the drawdown chart below to compare losses from any high point for WRGCX and KSCOX.

Drawdown Indicators

	WRGCX	KSCOX	Difference
Max Drawdown Largest peak-to-trough decline	-58.56%	-70.09%	+11.53%
Max Drawdown (1Y) Largest decline over 1 year	-12.25%	-21.54%	+9.29%
Max Drawdown (3Y) Largest decline over 3 years	-23.30%	-33.10%	+9.80%
Max Drawdown (5Y) Largest decline over 5 years	-58.56%	-33.10%	-25.46%
Max Drawdown (10Y) Largest decline over 10 years	-58.56%	-47.09%	-11.47%
Current Drawdown Current decline from peak	-18.39%	-16.87%	-1.52%
Average Drawdown Average peak-to-trough decline	-21.31%	-14.90%	-6.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	9.61%	-6.41%

Volatility

WRGCX vs. KSCOX - Volatility Comparison

The current volatility for Delaware Ivy Small Cap Growth Fund (WRGCX) is 4.90%, while Kinetics Small Cap Opportunities Fund (KSCOX) has a volatility of 7.17%. This indicates that WRGCX experiences smaller price fluctuations and is considered to be less risky than KSCOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WRGCX	KSCOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.90%	7.17%	-2.27%
Volatility (6M) Calculated over the trailing 6-month period	15.65%	22.34%	-6.69%
Volatility (1Y) Calculated over the trailing 1-year period	20.81%	27.67%	-6.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.03%	28.02%	+15.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.74%	26.32%	+8.42%

WRGCX vs. KSCOX - Expense Ratio Comparison

WRGCX has a 1.89% expense ratio, which is higher than KSCOX's 1.64% expense ratio.

Dividends

WRGCX vs. KSCOX - Dividend Comparison

WRGCX's dividend yield for the trailing twelve months is around 10.88%, more than KSCOX's 0.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KSCOX Kinetics Small Cap Opportunities Fund	0.15%	0.18%	3.58%	6.71%	0.00%	1.67%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
WRGCX Delaware Ivy Small Cap Growth Fund	10.88%	12.50%	23.68%	9.47%	9.84%	63.80%	12.83%	9.29%	23.45%	13.88%	7.73%	18.28%

Frequently Asked Questions

Can I hold both WRGCX and KSCOX in my portfolio?

WRGCX and KSCOX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WRGCX or KSCOX?

KSCOX has higher volatility (7.17%) compared to WRGCX (4.90%). In terms of maximum drawdown, WRGCX dropped -58.56% vs KSCOX's -70.09%.

Which has better risk-adjusted returns?

WRGCX currently has the higher Sharpe Ratio (1.15 vs 0.46), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.